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Treasury touts success of TARP

WASHINGTON | Fri Mar 4, 2011 10:55am EST

WASHINGTON (Reuters) - The Treasury's last man in charge of the $700 billion financial sector bailout program has two words for congressional overseers: It worked.
Testifying at the Congressional Oversight Panel's final hearing on Friday, Treasury's bailout chief Timothy Massad said the program "brought stability to the financial system and laid the foundation for economic recovery."
The much-maligned Troubled Asset Relief Program is estimated to cost taxpayers as little as $25 billion -- a far cry from initial projections -- and even some of the program's harshest critics admit it helped pull markets "back from the abyss."

"Today the panic of 2008 is a slowly fading memory, and the TARP played a role in turning the page on that grim chapter in American history," said former Democratic Senator Ted Kaufman from Delaware, the chairman of the congressional panel.

WASHINGTON (Reuters) - The Treasury's last man in charge of the $700 billion financial sector bailout program has two words for congressional overseers: It worked.
Testifying at the Congressional Oversight Panel's final hearing on Friday, Treasury's bailout chief Timothy Massad said the program "brought stability to the financial system and laid the foundation for economic recovery."
The much-maligned Troubled Asset Relief Program is estimated to cost taxpayers as little as $25 billion -- a far cry from initial projections -- and even some of the program's harshest critics admit it helped pull markets "back from the abyss."

"Today the panic of 2008 is a slowly fading memory, and the TARP played a role in turning the page on that grim chapter in American history," said former Democratic Senator Ted Kaufman from Delaware, the chairman of the congressional panel.

You mean the panic that was caused by people like Ted Kaufman? Nice he can pat himself on the back but, we are far from being out of the woods.

Collecting more taxes than is absolutely necessary is legalized robbery. Calvin Coolidge

WASHINGTON (Reuters) - The Treasury's last man in charge of the $700 billion financial sector bailout program has two words for congressional overseers: It worked.
Testifying at the Congressional Oversight Panel's final hearing on Friday, Treasury's bailout chief Timothy Massad said the program "brought stability to the financial system and laid the foundation for economic recovery."
The much-maligned Troubled Asset Relief Program is estimated to cost taxpayers as little as $25 billion -- a far cry from initial projections -- and even some of the program's harshest critics admit it helped pull markets "back from the abyss."

"Today the panic of 2008 is a slowly fading memory, and the TARP played a role in turning the page on that grim chapter in American history," said former Democratic Senator Ted Kaufman from Delaware, the chairman of the congressional panel.

The globe is raging and some sorry-ass democrat senator wants to take credit for TARP? Beautiful.

Maybe we could ask Senator Terd Kaufman or Treasury Bailout Chief Timothy Massad if they would be opposed to a simple audit of the Fed. Fading memory my ass.